To consider transferring Breckland Council owned land at Croxton Road, Thetford to Norfolk County Council at Nil Value.

RESOLVED that:

1. The transfer of Breckland District Council owned land along Croxton Road, Thetford be transferred to Norfolk County Council at nil value for the purpose of creating a public cycleway be approved;

2. Authority to finalise the terms and conditions of the transfer and to complete the same be delegated to Strategic Property Manager and Executive Member for Contracts and Assets.

In considering the Options members should consider whether the reasons outlined have enough weight in this case to agree the nil valuation and should consider the legal advice within the report (5.1.1).  The Council can legally and under its constitution and adopted policy give an interest in land below valuation – however under the Disposal Consent it is for the Council to determine whether the undervalue provides an appropriate ‘promotion or improvement of the economic, social or environmental well-being of its area’.  Consequently, reductions in fees would normally be considered where there are wider economic, social or environmental benefits to the community.  In this case a publicly available cycleway is of benefit to both cyclists and other road users, and the wider community.

Option 1: Agree to transfer Breckland District Council owned Land along Croxton Road, Thetford to Norfolk County Council at nil value.

Option 2: Refuse to transfer the Breckland District Council land along Croxton Road, Thetford to Norfolk County Council at nil value and ask for the full value of the land which based on District Valuers general land valuation would be £1562.